AWS Data Center Overheating Disrupts Cloud Services in Northern Virginia 
Gold Prices Slip as Strong Dollar and Rising Oil Weigh on Market Sentiment 
US-Iran Ceasefire Under Pressure as Fresh Strait of Hormuz Clashes Shake Oil Markets 
Armani Group Eyes Strategic Stake Sale to Luxury Giants 
European Stocks Fall as US-Iran Conflict Rekindles Energy Supply Fears 
Oil Prices Rise Amid Strait of Hormuz Tensions and U.S.-Iran Ceasefire Uncertainty 
Nike Tariff Refund Lawsuit Sparks Consumer Backlash Over Price Increases 
Novo Nordisk Raises 2026 Outlook on Strong Wegovy Demand 
Japan Tech Stocks Surge as AI Optimism Lifts SoftBank, Chipmakers 
Hantavirus Cruise Ship Outbreak Triggers Global Health Alert 
Continental AG Shares Jump After Q1 Profit Beats Expectations 
European Stocks Edge Higher as Iran-U.S. Peace Talks Boost Market Sentiment 
Japan’s Yen Intervention and BOJ Rate Hike Bets Support Currency Recovery 
China EV Truck Boom Accelerates as Iran War Drives Diesel Prices Higher 
Shell Q1 Profit Surges to Two-Year High as Dividend Rises Despite War-Driven Debt Pressure 
Maersk Q1 Earnings Beat Expectations as Iran Conflict Clouds Shipping Outlook 
China-Made Fireworks Power U.S. Independence Day Celebrations Amid Trade Truce 
Huobi Global, a Seychelles-based cryptocurrency exchange company that was founded in China, announced it would be halting its services in Singapore. Before March 31, 2022, all of its existing clients in the country were advised to close their accounts and withdraw their digital assets.
Huobi is said to be one of the biggest crypto exchanges in the world based on trading volumes. However, it is discontinuing its operations in Singapore, and this happened not long after it pulled out of China. As per CoinTelegraph, the company will close down all accounts of users in the region and this was confirmed by Huobi this week through its official announcement.
The decision to shut its operations was said to be part of the company’s efforts to follow regulations imposed by the local financial officials. It was added that based on Huobi’s user agreement, its services are not allowed to be used by people living in some locations including the United States, Canada, Singapore, Japan, the United Kingdom, Cuba, Mainland China, Iran, Venezuela, Crimea, Kyrgyzstan, and others.
It was written in the agreement that Huobi may suspend or terminate accounts and services. It may also stop the processing of any digital asset transaction at any time.
Huobi would carry out these actions if users violated the agreement or its provision. Also, the account could be terminated if the client’s use of the company’s service in their location is unlawful. Apparently, since people in Singapore are prohibited from using Huobi’s services, the company simply halted its operations.
“We will be closing the accounts of all Singapore-based users on March 31, 2022. Access to our services by Singapore-based users will also be gradually phased out prior to March 31, 2022.” Huobi stated in its announcement. “We apologize for any inconvenience caused and thank you for your past support.”
The crypto exchange did not share any other detail about its shut down in Singapore. At any rate, its decision to stop its operations in Singapore comes not long after it was forced to leave China amid the authorities’ crackdown on crypto companies.
Beijing imposed a ban on major crypto activities in the country in September. Huobi will be closing all Chinese accounts by Dec. 31.
